The financial institution is responsible for the effective implementation of the AML/CTF requirements and adoption of a risk-based approach to mitigate the money laundering and terrorism financing risks it faces. The financial institution shall not consider combating money laundering and terrorism financing in isolation from other regulations and needs in the financial institution, but as part of its comprehensive risk management strategies. Therefore, the board of directors and senior management in the financial institution shall ensure that the policies, procedures and controls in place related to AML/CTF are based on the results of money laundering and terrorism financing risks. To ensure the effectiveness of the AML/CTF strategy at the level of the financial institution, the risk management process shall be reviewed continuously and updated periodically, and appropriate mechanisms, policies and procedures shall be developed to mitigate risks. The financial Institution must ensure that its employees are sufficiently aware of all the policy requirements, procedures and internal controls and are working to implement them.